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Bloomberg Talks
University of Michigan's Betsey Stevenson Talks 2024 Economic Outlook
Dec 22, 2023
Betsey Stevenson, University of Michigan Economics Professor and Bloomberg Opinion Columnist, discusses potential economic risks in 2024, wage growth versus inflation, US fiscal policy, and the conservative approach of the Fed to inflation.
09:09
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Quick takeaways
- Moderating inflation and ongoing economic growth defied economists' predictions of a recession with high unemployment.
- The Fed may be cautious with rate cuts in 2024, but if current trends continue, cuts may be seen.
Deep dives
Inflation has been successfully moderated
The podcast discusses how inflation has been successfully moderated over the past year, with the core PCE running below the Fed's target. This outcome was not predicted by 85% of economists, who expected a recession with high unemployment and declining economic growth. The current situation of ongoing economic growth and moderating inflation is cause for celebration.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode